I used Interactive Brokers many years ago and I found them to be great in day trading stocks but somewhat cumbersome in trading option spreads. TOS has a fantastic option platform but I am attracted by the low commissions at IB. Is anyone trading option strategies such as Iron Condors with IB and if so how good is there platform for entering and adjusting prices and overall management of the option trades?
IBKR has a terrible front end that definitely hurts your workflow and productivity. I say: Use the best tool for the job. Your money deserves it. With IBKR, there are unique functions only found in professional grade solutions. For risk, VAR. For execution, algorithms and basket/rebalancing. For backend, reporting functions, cost analysis and trade reporting. Then, there's the robust API that gives you an early entrance to professional, customized algorithmic trading solutions. Those are just some examples that make IBKR more comparable to a professional traders broker. If you spend less than 10-15 hours a week using your PC as trading tool and just want a convenient platform for canned analytics go with TOS. If you are a high speed level II order book trader, you just go with the fastest and best DOM you can and other accoutrements necessary for that type of trading. So understand what type of trader you are and what kind of trader your going to be. As your needs, sophistication and committed time grows as a trader, you will find yourself shopping for more expensive solutions. Or try to make IBKR useable by building a complete platform with Excel and/or/along with a programming language. I am actually going back to school for a 2nd degree to do this and my mother thanks Interactive Brokers for motivating me. Go Blue Demons! Go Flames!
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You don't have to use TWS with IB. I prefer Silexx Obsidian for both options and stock trading. We offer these platforms with other prime brokers. Obsidian is certified with IB if you want to stay with them. Email me if you want more information about our services. http://www.silexx.com/obsidian/modules
Thanks to you and all the others that responded. It has been very helpful and good luck to Depaul with the new coach and UIC. ILL...INI